US Non-Farm Payrolls data was announced.
Announced: 177K
Expectation: 138k
Previous: 228k
US Unemployment Rate Announced
Announced: 4.2%
Expectation: 4.2%,
Previous 4.2%
Jack Dorsey: US-Made Bitcoin Mining Chip Proto to Launch This Year
According to DL News, Block CEO Jack Dorsey announced that “Proto”, a Bitcoin mining chip made in the US, will be released this year. This open-source design is based on collaboration directly with American suppliers to provide flexibility. Dorsey also stated that they took this step to protect themselves from the risks of increased tariffs and foreign dependency. Block also announced its Q1 2024 performance; the company posted a gross profit of $2.29 billion, up 9%. Of this gross profit, $1.38 billion came from Cash App and $898 million from the Square unit.
Goldman Sachs: Will Increase Investment in Digital Assets
Speaking at the TOKEN2049 event, Goldman Sachs Head of Digital Assets Mathew McDermott announced that the bank will increase its digital asset trading activities and invest heavily in tokenization. McDermott stated that the bank is also evaluating crypto loans and that customer demand is growing rapidly. The bank aims to expand its services in this area by following regulatory approval processes.
El Salvador Reserve
According to El Salvador’s Ministry of Finance, the country has acquired 9 more Bitcoins in the last 7 days, bringing its total reserves to 6,165.18 BTC. The total market value of this reserve is approximately 594 million dollars. In the last 30 days, El Salvador has accumulated a total of 32 Bitcoins.
UK Plans to Ban the Use of Borrowed Money for Cryptocurrency Purchases
The UK’s Financial Conduct Authority (FCA) is preparing new regulations that will prohibit consumers from borrowing money to buy cryptocurrencies such as Bitcoin. The restriction comes as part of the government’s proposed comprehensive regulatory framework for the digital asset market. The aim is to reduce consumer risk and prevent speculative investments from originating from credit.
